Alleged Tax Fraud Destroys Major Dallas Law Firm

Jenkens & Gilchrist will close and pay a $ 76 million civil fine for promoting tax shelters that were allegedly fraudulent. According to the U.S. Internal Revenue Service (IRS), nearly 1,400 individuals received incorrect advice from the Dallas law firm. Some clients have apparently sued the firm for damages incurred because of the advice.

“This should be a lesson to all tax professionals that they must not aid or abet tax evasion by clients or promote potentially abusive or illegal tax shelters, or ignore their responsibilities to register or disclose tax shelters.” – IRS Commissioner Mark Everson

Here’s the moral of the story. If you’re treading a fine line between tax avoidance (legal) and tax evasion (illegal), step back and consider what will happen to you if the IRS and U.S. Department of Justice decide to make an example out of you.
Hat tip to CBS 11 TV.
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A Third Dallas Airport?

If you’ve ever had to catch a plane at Love Field while stuck in a traffic jam on the Dallas Tollway or had to spend a couple hours driving round trip to and from the D/FW Airport, then a proposed Collin County commercial airport in McKinney, Texas may be just the right solution.

Consultants find it feasible to expand Collin County Regional Airport. There’s a demand for it among North Texas residents and businesses.

However, you can expect opposition from D/FW Airport, American Airlines (hubbed there), and the politicians they own.

The political solution is to woo Southwest Airlines.

Why?

SWA is capped at Love Field on the number of gates it can use and interstate flights are still restricted because of former House Speaker Jim Wright. Collin County Regional can handle Southwest’s 737s.

This is a prime opportunity for the airline to gain a bigger market share at AA’s expense…and create a very loyal following in North Texas.
Hat tip to Roy Appleton at the Dallas Morning News.

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My Treadmill Desk And Why I Got It

Today marks the 89th birthday of my grandfather…had he lived. In 1984 on this day, he suffered a fatal stroke on his 66th birthday. Family history suggests that lifestyle more than genes was the culprit.

Practicing law is a high stress job that leads down the same path to premature death unless something is done to maintain a healthy lifestyle. Unfortunately, there are only so many hours in the day and many excuses why a client or other matter should take precedence over exercise.

Fortunately, Sharon Odom Fling provided me with the solution when I met her on a flight to an Internet conference last month: the treadmill desk.

I ordered the same model that she has (Smooth Fitness 5.25), had a board cut at Lowes to serve as a desk, put the laptop on it, and have been having a blast exercising while working.

Here’s a picture of mine.

treadmill desk

Does this ensure longevity? Of course not.

But it does increase my chances of living a long life…and a healthy one at that.

If you’re tired of being a couch potato, get yourself a treadmill desk.

For more information on why it works from a medical standpoint, check out this article about Dr. James Levine at the Mayo Clinic.

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